Abacus Planning Group Inc. Purchases 2,785 Shares of NVIDIA Corporation $NVDA

Key Points

• Abacus Planning Group Inc. increased its stake in NVIDIA Corporation by 7.8%, acquiring an additional 2,785 shares, bringing their total holdings to 38,682 shares worth approximately $6.1 million.
• NVIDIA received multiple upgrades from brokerages, including a target price increase by Truist Financial from $210 to $228 and a strong majority of analysts rating the stock as a Buy.
• CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock for around $13.6 million, which represents a 0.11% decrease in his holdings.

Abacus Planning Group Inc. boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,682 shares of the computer hardware maker's stock after purchasing an additional 2,785 shares during the period. NVIDIA comprises 0.7% of Abacus Planning Group Inc.'s holdings, making the stock its 26th biggest holding. Abacus Planning Group Inc.'s holdings in NVIDIA were worth $6,111,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. 25 LLC grew its holdings in NVIDIA by 7.5% during the 2nd quarter. 25 LLC now owns 8,927 shares of the computer hardware maker's stock valued at $1,410,000 after purchasing an additional 623 shares during the last quarter. Crews Bank & Trust grew its stake in NVIDIA by 3.5% in the 2nd quarter. Crews Bank & Trust now owns 11,614 shares of the computer hardware maker's stock worth $1,835,000 after acquiring an additional 396 shares in the last quarter. Hilltop National Bank bought a new position in NVIDIA in the 2nd quarter worth about $11,376,000. Hardman Johnston Global Advisors LLC grew its stake in NVIDIA by 18.1% in the 2nd quarter. Hardman Johnston Global Advisors LLC now owns 681,931 shares of the computer hardware maker's stock worth $107,738,000 after acquiring an additional 104,417 shares in the last quarter. Finally, Investment Planning Advisors Inc. grew its stake in NVIDIA by 14.4% in the 2nd quarter. Investment Planning Advisors Inc. now owns 2,712 shares of the computer hardware maker's stock worth $429,000 after acquiring an additional 342 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVDA. Wall Street Zen upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Sunday. Weiss Ratings restated a "buy (b)" rating on shares of NVIDIA in a research note on Wednesday, October 8th. Truist Financial upped their target price on shares of NVIDIA from $210.00 to $228.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Piper Sandler set a $225.00 target price on shares of NVIDIA and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Daiwa Capital Markets upped their target price on shares of NVIDIA from $165.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NVIDIA has an average rating of "Buy" and an average price target of $222.23.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $181.01, for a total value of $13,575,750.00. Following the completion of the sale, the chief executive officer directly owned 70,333,203 shares in the company, valued at $12,731,013,075.03. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,678,937 shares of company stock valued at $654,837,526 in the last three months. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $183.22 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. The firm's 50 day moving average price is $179.40 and its 200-day moving average price is $153.63. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $195.62. The company has a market cap of $4.45 trillion, a PE ratio of 52.20, a P/E/G ratio of 1.32 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The firm had revenue of $46.74 billion for the quarter, compared to the consensus estimate of $45.65 billion. During the same period last year, the firm earned $0.68 earnings per share. The company's quarterly revenue was up 55.6% on a year-over-year basis. NVIDIA has set its Q3 2026 guidance at EPS. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, September 11th. NVIDIA's dividend payout ratio (DPR) is 1.14%.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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